There have been many startups that attempted this and all have failed (or the VCs just wanted a payout and were bought for millions when the big publishing companies felt threatened).
It's like trying to disrupt Ticketmaster. You might be able to get a few venues over to your side, but if the artists aren't switching over, you won't get very much traction.
Universities also have no incentive to save money on software. They know that not only is there more of a demand to go to college than the supply of colleges, but that they are guaranteed tuition through the federal loans program.
If we had no federal student loan program, they would be forced to compete on the free market and all of these ridiculous prices for textbooks and software would free fall.